1,750 per cent jump in net profit: This micro-cap company enters JV with Sitra Infotech Private Limited!

The stock is up by 65 per cent in 3 years and over 110 per cent in the span of 10 years. 

Tera Software Ltd informed that it has entered into a joint venture agreement with Sitra Infotech Private Limited and formed a Private Limited Company in the ordinary course of business to participate in an e-tender invited by ONGC for the award of contract for survey, engineering, supply, installation & commissioning of CCTV system.

Tera Software Limited is a software solutions and services company. The company also implements literacy projects in Goa schools. The company has a market cap of Rs 58 crore with a 3-year stock price CAGR of 20 per cent.

On Thursday, shares of Tera Software Ltd plunged 1.05 per cent to Rs 46.06 per share with an intraday high of Rs 46.55 and an intraday low of Rs 46. The shares of the company saw a spurt in volume by more than 2.20 times on BSE.

Talking about the financials, the net sales increased by 21.76 per cent to Rs 45.71 crore and net profit skyrocketed by 1,750 per cent to Rs 3.50 crore in Q4FY23 over Q4FY22. During FY23, the company recorded net sales of Rs 130.28 crore, indicating a growth of 2.88 per cent compared to the previous year. Moreover, in FY23, the company achieved a net profit of Rs 3.47 crore, a significant improvement from the net loss of Rs 1.30 crore reported in FY22.

The stock is up by 65 per cent in 3 years and over 110 per cent in the span of 10 years. Investors should keep an eye on this micro-cap stock.